LTC Properties Inc. (LTC) To Go Ex-Dividend on September 20th
LTC Properties Inc. (NYSE:LTC) announced a monthly dividend on Tuesday, July 5th. Stockholders of record on Thursday, September 22nd will be paid a dividend of 0.18 per share by the real estate investment trust on Friday, September 30th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend is Tuesday, September 20th.
LTC Properties (NYSE:LTC) opened at 50.86 on Monday. The firm has a market capitalization of $1.99 billion, a PE ratio of 24.09 and a beta of 0.41. LTC Properties has a 12 month low of $40.02 and a 12 month high of $54.20. The stock’s 50 day moving average price is $52.26 and its 200 day moving average price is $48.89.
LTC Properties (NYSE:LTC) last released its earnings results on Monday, August 1st. The real estate investment trust reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. LTC Properties had a return on equity of 11.83% and a net margin of 52.62%. The business had revenue of $40 million for the quarter, compared to the consensus estimate of $33.66 million. During the same period last year, the business earned $0.67 earnings per share. Equities research analysts expect that LTC Properties will post $3.06 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on LTC. Cantor Fitzgerald reiterated a “buy” rating on shares of LTC Properties in a research report on Friday, September 9th. Zacks Investment Research cut LTC Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Mizuho cut LTC Properties from a “buy” rating to a “neutral” rating and set a $53.00 price target on the stock. in a research report on Monday, July 18th. Canaccord Genuity increased their price target on LTC Properties from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 15th. Finally, Hilliard Lyons cut LTC Properties from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $53.00.
In related news, Director Timothy Triche sold 2,000 shares of LTC Properties stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $52.13, for a total transaction of $104,260.00. Following the sale, the director now directly owns 36,188 shares of the company’s stock, valued at $1,886,480.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in LTC. BlackRock Investment Management LLC increased its stake in LTC Properties by 3.8% in the second quarter. BlackRock Investment Management LLC now owns 211,920 shares of the real estate investment trust’s stock worth $10,963,000 after buying an additional 7,792 shares during the period. BlackRock Inc. increased its stake in LTC Properties by 12.2% in the second quarter. BlackRock Inc. now owns 41,040 shares of the real estate investment trust’s stock worth $2,123,000 after buying an additional 4,454 shares during the period. BlackRock Fund Advisors increased its stake in LTC Properties by 4.4% in the second quarter. BlackRock Fund Advisors now owns 2,496,834 shares of the real estate investment trust’s stock worth $129,161,000 after buying an additional 105,938 shares during the period. BlackRock Japan Co. Ltd increased its stake in LTC Properties by 1.9% in the second quarter. BlackRock Japan Co. Ltd now owns 2,017 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 37 shares during the period. Finally, Employees Retirement System of Texas increased its stake in LTC Properties by 60.7% in the second quarter. Employees Retirement System of Texas now owns 98,000 shares of the real estate investment trust’s stock worth $5,070,000 after buying an additional 37,000 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.
About LTC Properties
LTC Properties Inc is a healthcare real estate investment trust. The Company invests in senior housing and long-term care properties through acquisitions, development, mortgage loans and other investments. Its primary senior housing and long term healthcare property types include skilled nursing properties (SNF), assisted living properties (ALF), independent living properties (ILF), memory care properties (MC) and combinations thereof.
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